DataRPM, an industrial IoT-focused predictive analytics startup acquired by Progress for $30M


Apr 17 2017

DataRPM, cognitive predictive maintenance company for the industrial IoT (IIoT) market was acquired by Progress Software Corp on March 29, 2017 for $30m. Progress Software is an application development and deployment technology company. The acquisition will help Progress develop cognitive-first applications.

The startup offers both cloud-based and an on-premise solution. A major use case of DataRPM is equipment failure prediction by using its predictive modeling technology. It detects random and unknown failures using unsupervised and semi-supervised machine learning techniques, including Meta Learning which involves learning from experience and feedback. DataRPM's patented technology consists of real-time business intelligence using search-based analytics engine.

Jaguar, and Samsung are among the two key customers of the company in the IIoT market.

Prominent technology leaders like Amr Awadallah, founder & CTO Cloudera, and Bill Schmarzo, CTO at Dell EMC are among the board members of DataRPM. Amr Awadallah was also an angel investor in DataRPM's Series A funding round.

Recently, a Poland-based industrial IoT startup Elmodis also entered the M2M predictive analytics space. It targets OEMs (Original Equipment Manufacturers) and industries such as manufacturing, mining, energy, and oil & gas raised $4.9M. Elmodis plans to expand their sales to the U.S market.




More Details

Highlights

+ DataRPM's channel partners include big names such as SAP, Hortonworks, Cloudera, Accenture, and Amazon Web Services.

+ The primary target market of the company includes industrial sectors like manufacturers, automotive, oil & gas, energy, power, smart cities.

+ Massachusetts-based Netezza and Vertica Systems are the main competitors of DataRPM.

Additional Coverage

- http://www.kdnuggets.com/2017/02/datarpm-machine-40-factory-production-maintenance-data.html

- http://magazine.cioreview.com/magazines/December2016/M2M/#page=16

- http://startupbeat.com/2017/03/datarpm-acquired-by-leading-provider-of-application-development-and-deployment-technologies-progress/


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